Aigen Investment Management LP Increases Stock Holdings in DraftKings Inc. (NASDAQ:DKNG)

Aigen Investment Management LP boosted its position in shares of DraftKings Inc. (NASDAQ:DKNG - Free Report) by 131.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 116,281 shares of the company's stock after acquiring an additional 66,108 shares during the quarter. DraftKings comprises about 0.7% of Aigen Investment Management LP's portfolio, making the stock its 14th largest position. Aigen Investment Management LP's holdings in DraftKings were worth $4,099,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in shares of DraftKings in the 4th quarter valued at about $93,000. Trexquant Investment LP acquired a new position in DraftKings in the 4th quarter worth about $9,542,000. Corient Private Wealth LLC raised its holdings in DraftKings by 9.4% in the 4th quarter. Corient Private Wealth LLC now owns 47,100 shares of the company's stock worth $1,660,000 after purchasing an additional 4,039 shares during the period. D.A. Davidson & CO. raised its holdings in DraftKings by 60.8% in the 4th quarter. D.A. Davidson & CO. now owns 16,028 shares of the company's stock worth $565,000 after purchasing an additional 6,058 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in DraftKings by 1.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 58,018 shares of the company's stock worth $2,045,000 after purchasing an additional 1,021 shares during the period. Institutional investors and hedge funds own 37.70% of the company's stock.

DraftKings Trading Up 1.2 %

NASDAQ:DKNG traded up $0.51 during trading hours on Monday, reaching $44.72. 5,040,419 shares of the stock were exchanged, compared to its average volume of 11,248,241. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.51. The business has a 50-day moving average of $43.90 and a two-hundred day moving average of $40.09. DraftKings Inc. has a twelve month low of $22.92 and a twelve month high of $49.57. The company has a market capitalization of $38.87 billion, a price-to-earnings ratio of -37.90 and a beta of 1.87.

DraftKings (NASDAQ:DKNG - Get Free Report) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.30) EPS for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.02). DraftKings had a negative return on equity of 62.74% and a negative net margin of 13.45%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same quarter last year, the company earned ($0.87) earnings per share. The firm's revenue for the quarter was up 52.7% on a year-over-year basis. On average, equities analysts predict that DraftKings Inc. will post -0.19 EPS for the current year.

Insiders Place Their Bets

In other DraftKings news, insider Jason Robins sold 200,000 shares of the company's stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $42.67, for a total transaction of $8,534,000.00. Following the transaction, the insider now directly owns 2,849,215 shares in the company, valued at $121,576,004.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 600,000 shares of company stock worth $24,894,000 over the last ninety days. Corporate insiders own 48.94% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Morgan Stanley upped their price target on DraftKings from $49.00 to $50.00 and gave the stock an "overweight" rating in a report on Tuesday, April 9th. Stifel Nicolaus boosted their price objective on DraftKings from $50.00 to $51.00 and gave the stock a "buy" rating in a research note on Monday, May 6th. Bank Of America (Bofa) boosted their price objective on DraftKings from $45.00 to $50.00 in a research note on Thursday, February 15th. Benchmark boosted their price objective on DraftKings from $50.00 to $52.00 and gave the stock a "buy" rating in a research note on Friday, May 3rd. Finally, Piper Sandler boosted their price objective on DraftKings from $40.00 to $50.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 13th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and twenty-five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $49.21.

About DraftKings

DraftKings Inc operates as a digital sports entertainment and gaming company in the United States and internationally. It provides online sports betting and casino, daily fantasy sports, media, and other consumer products, as well as retails sportsbooks. The company also engages in the design and development of sports betting and casino gaming software for online and retail sportsbooks, and iGaming operators.

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